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HP Rating Score

  • 24-01-2014 4:50pm
    #1
    walsheliz
    Registered Users, Registered Users 2 Posts: 39 ✭


    I am looking for someone who would be able to critique a rating score I have devised for scoring financial product offerings - mainly HP. I would like it checked from an economist's and or statistician's perspective.

    I estimate somone with the correct skills would do this in their sleep and I am fairly sure the rating system I have devised will stand up to scrutiny.

    If you can help please respond and we can talk.

    Thanks.


Comments

  • #2
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    If you want to score ratings, you need to specify the criteria at least! Are you talking exclusively about the rates charged or the wider criteria such as the detail of the terms and conditions? The terms and conditions and rights afforded to the hirer can make a huge difference to the value proposition.


  • #3
    pedroeibar1
    Closed Accounts Posts: 5,108 ✭✭✭pedroeibar1


    walsheliz wrote: »
    I am looking for someone who would be able to critique a rating score I have devised for scoring financial product offerings - mainly HP. I would like it checked from an economist's and or statistician's perspective.

    I estimate somone with the correct skills would do this in their sleep and I am fairly sure the rating system I have devised will stand up to scrutiny.

    If you can help please respond and we can talk.

    Thanks.

    Interesting. You seem quite confident. :) Scoring is a highly complex issue, not something anyone could do in their sleep!

    Is your system behaviour, rules or neural network based?
    Is your model to be used for scoring business or consumer?
    Up to what amount ceiling?
    At what level are the referral points?
    How is human intervention managed?
    What percentage of proposals will be automated?
    How many data fields are you scoring?
    How / where did you mine the base data?
    "mainly HP" suggests secured lending, so what other products do you see it being used for?
    How does your model stack up against FICO?
    In what way is it different/better?
    How often, how, why and on what basis is the model updated?
    Ireland domestic only or are you looking at other markets?
    If yes, what other markets?

    The list of questions is almost endless because scoring models are 'refined' on a very regular basis.
    It's a good topic for here as it will give SME's an idea of what happens when credit scoring is used.


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